CrossFirst Bankshares (NASDAQ:CFB) Shares Gap Up – Here’s Why

CrossFirst Bankshares, Inc. (NASDAQ:CFB)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $16.00, but opened at $16.85. CrossFirst Bankshares shares last traded at $15.98, with a volume of 16,630 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CFB shares. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of CrossFirst Bankshares in a research note on Tuesday, July 16th. Janney Montgomery Scott raised shares of CrossFirst Bankshares from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $20.00 price objective on shares of CrossFirst Bankshares in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, CrossFirst Bankshares currently has an average rating of “Buy” and an average target price of $18.50.

CrossFirst Bankshares Price Performance

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average price is $16.82 and its two-hundred day moving average price is $15.10. The stock has a market capitalization of $778.83 million, a PE ratio of 11.45 and a beta of 1.03.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CFB. EntryPoint Capital LLC raised its holdings in shares of CrossFirst Bankshares by 182.8% during the first quarter. EntryPoint Capital LLC now owns 3,549 shares of the company’s stock valued at $49,000 after purchasing an additional 2,294 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in CrossFirst Bankshares during the first quarter valued at approximately $138,000. Quadrature Capital Ltd bought a new stake in CrossFirst Bankshares during the fourth quarter valued at approximately $140,000. Russell Investments Group Ltd. bought a new stake in CrossFirst Bankshares during the first quarter valued at approximately $173,000. Finally, FAS Wealth Partners Inc. bought a new stake in CrossFirst Bankshares during the second quarter valued at approximately $177,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

About CrossFirst Bankshares

CrossFirst Bankshares, Inc operates as the bank holding company for CrossFirst Bank that provides various banking and financial services to businesses, business owners, professionals, and its personal networks. The company offers commercial and industrial loans, including enterprise value lending; commercial real estate loans; construction and development loans, such as home builder lending; residential real estate, multifamily real estate, energy, SBA, and consumer loans; and credit cards.